On one night, the Elk Grove Village board approved four purchases worth a total of $12.3 million with an eye toward redevelopment along Higgins Road
Acting as a kind of master developer, Elk Grove Village Mayor Craig Johnson and village trustees Tuesday night purchased four properties along Higgins Road for $12.3 million that they later plan to sell back to developers.
"We're the catalyst to spur redevelopment in these parcels," Johnson said."Higgins Road has become the hot corridor."• The village is paying Sabeen Hospitality, managed by Vipul Patel, $10 million for the 2.12-acre La Quinta property at 1900 Oakton St. It's right next to the vacant 0.9-acre White Castle restaurant and drive-through the village agreed to purchase for $900,000 two weeks ago.
He said village officials don't have a desire to acquire the other business on that corner, the Hibachi Grill Asian Buffet. by signing up you agree to our terms of service • The village is paying Brennan Investment Group $800,000 for a 1.44-acre vacant piece of land at 800 Innovative Drive, which is at the northern Higgins Road entrance to the 85-acre tech park. Originally intended for a retail or restaurant use, the land is across the street from a long-stalled hotel project that never secured financing or got a shovel in the ground. The closing is set for April 28.
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